Highly modular & adaptable architecture
The CargoX Platform was designed to allow for a high degree of adaptability, upgradability, growth, and scalability, while at the same time ensuring the benefits of public blockchain – security, trust, and immutability.
A combination of on-chain and off-chain data
CargoX architecture uses an approach that provides a balance between the benefits of blockchain technology and the needs of the industries involved. Off-the-chain data storage assures business confidentiality, as personal and business details are not stored directly on the blockchain.
Used for registering an original document with blockchain and tracking the document's ownership. This is the part where trust is the most important, as we do not want anyone besides the current owner of the document to have rights to change it (not even CargoX).
Stores all user data for mandatory customer identification and verification, including everything required by regulators – like KYC (Know Your Customer). This is also where the pairing of customers and their public keys is securely stored.
Blockchain
The CargoX Platform utilizes the public, neutral Ethereum blockchain network for tokenizing digital assets, such as electronic trade documents – bills of lading, letters of credit, contracts, other documents of title and certificates, altogether more than 65+ types of documents in structured or unstructured formats (PDF, JSON, XML, etc).
InterPlanetary File System
All original documents are encrypted and stored on a decentralised IPFS.
The principles of IPFS are similar to a blockchain in the sense that it is permanent and immutable, preventing unauthorised changes or loss of data. Encrypted documents are only available to the parties involved in the transaction.
Ethereum smart contracts
Whenever we read/write on-chain (blockchain) data, the CargoX Platform smart contracts are used. The CargoX smart contracts are a suite of smart contracts deployed on the public Ethereum and Polygon networks.
Tokenisation
Electronic trade documents are tokenized using the non-fungible CargoX ERC721 token on the Ethereum blockchain network. The tokens are used to transfer possession and control of electronic trade documents created on the CargoX Platform. Signing, transfer and control are performed with the help of private blockchain keys.
Delivering authenticity
Unstructured documents are uploaded to the IPFS distributed storage system and encrypted with state-of-the-art secure encryption methods. Any change in the content of the document would result in its invalidation. The document's authenticity can always be verified by deriving a hash from its contents and comparing it to the storage system address.
API for seamless integration in your ERP
Companies and organisations who seek to optimise productivity and achieve seamless workflow integration can benefit greatly from CargoX Platform's full coverage REST API interfaces, allowing them to integrate blockchain document trnasfer in their corporate ERP.
We are GDPR compliant
No identifiable business information is stored on the blockchain. Corporate digital identity data is stored off-chain in a proprietary CargoX database.
A verified global business directory
Companies can register an account on the CargoX Platform and additionally verify their identity in a two-step process – through
a bank transfer, and then through Dun & Bradstreet with a DUNB. That makes it possible for them to send and receive government- related documents, such as the ACI/ACEM, and others.
Trust is the foundation of any business
Maintaining trust without a central authority (and even that only ensures partial trust), particularly in a global economy, was next to impossible – until the emergence of blockchain.
Follow every step of your documents
Document creation, tokenization, and possession transfers are recorded on a public, neutral blockchain. Recorded information is anonymized and can only be deciphered by the parties involved and through the CargoX Platform.
Based on standards, built for interoperability
CargoX is designed to cater to the needs of global players. By partnering with leading worldwide industry groups and institutions, we aim to offer a modern framework of standards and legislative adoption, ultimately eliminating barriers in global trade.